Arkansas Can Cut Utility Bills, Create Jobs With Energy Efficiency
New study from Nobel Prize Winner shows how aggressive energy efficiency policies could make the Arkansas a leader in smart energy use
Media Contact:
Eddy Moore, AR Business Leaders for a Clean Energy Economy
C: 501-772-5426
Little Rock, AR – (April 12, 2010) – According to a new study released today by a team of researchers at the Georgia Institute of Technology and Duke University’s Nicholas Institute, aggressive adoption of energy efficiency programs in Arkansas would lower utility bills by $1.2 billion and create 8,700 new jobs by 2020. Avoided annual electricity consumption is equal to the amount of electricity produced by two power plants in 2020 and three power plants in 2030.
“The fastest route to a more prosperous secure economy in Arkansas and our country is to eliminate energy waste through energy efficiency and move to a clean energy economy,” said Eddy Moore, coordinator of Arkansas Business Leaders for a Clean Energy Economy.
“Setting the right market signals by putting limits on carbon pollution and passing stronger efficiency standards would give the market the direction it needs to reduce energy consumption and start to give consumers and businesses more control over their energy costs,” added Moore.
Total energy demand in the South, where per capita energy consumption is already higher than average, is projected to increase 16 percent from 2010 to 2030. At the same time, many Southern states spend less on energy efficiency programs than their peer states in other parts of the country. The research strongly indicates the South’s projected growth in energy consumption need not materialize if the region begins to tap into its tremendous energy efficiency potential. See the attached fact sheet for detailed Arkansas findings.
“An aggressive commitment to energy efficiency could be an economic windfall for the South,” states Dr. Marilyn Brown of the Georgia Institute of Technology and co-lead researcher of the study. “Such a shift would lower energy bills for cash-strapped consumers and businesses and create more new jobs for Southern workers.”
Across the Southern region, aggressive adoption of energy efficiency programs would lower utility bills by $41 billion and create 380,000 new jobs by 2020.
Moore reiterated that when national standards for renewable energy and a price on carbon are added to energy efficiency polices the economic effects multiply.
For example, a team of economist for three leading universities found that the combined package could generate up to 25,000 additional jobs in Arkansas, increase Arkansas’ real Gross Domestic Product by $1.2 billion and real household income by $1,230 per year (as measured in 2008 dollars).
“The issues surrounding energy are important and complex: energy security, economic security and economic growth are so closely tied that we cannot separate them,” said Robert Wilkins, President of Danfoss North America.
The Arkadelphia factory employs 525 people and is aggressively hiring. They produce 500,000 units of scroll compressors for heating, ventilating, air-conditioning and refrigeration applications per year.
“These issues affect broad stakeholders with wide sweeping implications that will not change over night, but it is important to stay the path in pursuing efficiency – by employing technologies available today and seeking transformational technologies of tomorrow,” added Wilkins.
The Arkansas Business Leaders for a Clean Energy Economy is an informal network of businesses and business leaders, spanning a wide spectrum of industry and commerce. The network supports a transition to a low-carbon clean energy economy in Arkansas and nationally. Its goal is to empower the Arkansas business community to influence public policy that helps get us there.
To view the full report and state profiles visit: http://www.seealliance.org/programs/se-efficiency-study.php
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Tags: Energy, energy efficiency, public service commission, utility
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